ExxonMobil drilled eight successful exploration and appraisal wells in the Stabroek Block last year, according to Hess’s latest annual report.
All eight wells “encountered hydrocarbons”, Hess said. There was “one unsuccessful exploration well for which the well costs were expensed.”
This year, Hess said Exxon will have five drillships to continue exploration, appraisal and development activities.
The Stabroek Block’s success began with ExxonMobil’s Liza discovery in 2015, unlocking what Darren Woods, ExxonMobil’s Chief Executive Officer, calls “one of the most successful deepwater developments in industry history.”
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Since starting production in 2019, ExxonMobil has ramped up output from the Liza 1, Liza 2, and Payara developments to over 650,000 barrels per day. The Yellowtail project, expected online this year, will increase production, making Guyana the world’s leading per capita oil producer.
Hess has a 30% stake in the block. Exxon has 45%, and CNOOC holds 25%.
